When you are considering taking the step of building a home, the best place to start is with getting a good idea of the type of homes you like and the blocks of vacant land available.
Using this approach will give you a ballpark idea of what you need to spend, and you’ll also start the journey with realistic expectations.
- Checking out a range of different builders – go through their websites to review the different land options and home designs on offer along with costs. A few of the more popular ones in Brisbane my clients have used are Metricon, Ausbuild, and StyleMaster.
- Broadening your search area – if you don’t have your heart set on one area already, then be curious and stretch outside of the areas you’re considering. You might just find a block of land that really suits you and which could give you better value for money if you’re starting out.
- Get familiar with what homes have sold for nearby – keep an eye on how the value of new homes in the area have changed by going online (real estate.com.au or domain.com.au). Find 10 other homes up to 5 years old that have sold within 5 Km’s that are similar to what you want to build.
- Do a commute test run – it’s very likely for most of us that we’ll be spending 5 days a week travelling back and forth to work. This is such a significant part of your day so doing a trial run to see how long it takes in peak hour will mean there are no nasty surprises. This is particularly important if you are moving to a suburb you haven’t lived in recently or at all.
- Get into the local neighbourhood – spend a weekend in the suburbs you’re looking at, just to get a feel for the vibe of the area. For example, try the gym, local shops, go to the markets or walk your dog through the parks.
- Remember it’s not forever – this is your starting point so if you feel you are settling for a home that’s not as big, modern or stylish as what you imagined, then use it as an incentive to fix the place up, sell and move again. These days Australians spend on average 7 years in their homes before moving again.